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Leases (Tables)
6 Months Ended
Jun. 30, 2021
Leases [Abstract]  
Schedule of Cost Components of Operating Lease

The cost components of the operating lease were as follows for the three and six months ended June 30, 2021 and 2020:

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2021

 

 

2020

 

 

2021

 

 

2020

 

Lease Cost

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating lease expense

 

$

140

 

 

$

151

 

 

$

279

 

 

$

260

 

Variable lease expense(1)

 

 

190

 

 

 

132

 

 

 

374

 

 

 

267

 

Lease Term and Discount Rate

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Remaining lease term (years)

 

 

6.00

 

 

1.75

 

 

 

6.00

 

 

1.75

 

Discount rate

 

 

2.45

%

 

 

3.75

%

 

 

2.45

%

 

 

3.75

%

 

 

(1)

Variable lease costs are payments that vary because of changes in facts or circumstances and include common area maintenance and property taxes related to the premises. Variable lease costs are excluded from the calculation of minimum lease payments.

Future Minimum Lease Payments

Future minimum lease payments as of June 30, 2021 were as follows:

 

Year ending December 31:

 

2021

 

$

416

 

2022

 

 

713

 

2023

 

 

584

 

2024

 

 

584

 

2025 and thereafter

 

 

1,460

 

Total future minimum lease payments

 

$

3,757

 

Less: imputed interest

 

 

(252

)

Present value of lease liabilities

 

$

3,505